Salesforce Inc. $CRM Shares Sold by Park National Corp OH

Park National Corp OH decreased its position in Salesforce Inc. (NYSE:CRM) by 12.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 165,114 shares of the CRM provider’s stock after selling 23,593 shares during the quarter. Salesforce accounts for about 1.0% of Park National Corp OH’s holdings, making the stock its 23rd biggest holding. Park National Corp OH’s holdings in Salesforce were worth $37,905,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in CRM. Adelphi Trust Co grew its holdings in Salesforce by 2.4% during the 3rd quarter. Adelphi Trust Co now owns 3,903 shares of the CRM provider’s stock worth $896,000 after acquiring an additional 93 shares in the last quarter. Eastern Bank increased its position in shares of Salesforce by 5.5% during the third quarter. Eastern Bank now owns 6,213 shares of the CRM provider’s stock worth $1,426,000 after purchasing an additional 324 shares in the last quarter. Polaris Financial Partners acquired a new stake in shares of Salesforce in the third quarter valued at approximately $40,000. CX Institutional raised its position in Salesforce by 0.9% in the 3rd quarter. CX Institutional now owns 52,240 shares of the CRM provider’s stock valued at $11,993,000 after purchasing an additional 458 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake in Salesforce by 2.8% during the 3rd quarter. Versant Capital Management Inc now owns 2,746 shares of the CRM provider’s stock worth $630,000 after purchasing an additional 76 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CRM. Susquehanna started coverage on Salesforce in a research note on Wednesday, July 1st. They issued a “neutral” rating on the stock. BTIG Research restated a “buy” rating and issued a $300.00 target price on shares of Salesforce in a research note on Wednesday, September 2nd. Scotiabank downgraded shares of Salesforce from a “sector outperform” rating to a “sector perform” rating in a report on Thursday, June 18th. Wells Fargo & Company increased their price target on shares of Salesforce from $230.00 to $250.00 and gave the stock an “equal weight” rating in a report on Friday, September 18th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Salesforce in a research report on Thursday, August 27th. Three analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $275.14.

Insiders Place Their Bets

In related news, Director David Blair Kirk purchased 4,176 shares of the firm’s stock in a transaction on Friday, September 18th. The shares were bought at an average price of $239.33 per share, for a total transaction of $999,442.08. Following the acquisition, the director directly owned 18,748 shares in the company, valued at $4,486,958.84. This trade represents a 28.66% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Craig Conway sold 4,500 shares of the business’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $260.61, for a total transaction of $1,172,745.00. Following the sale, the director directly owned 5,437 shares of the company’s stock, valued at $1,416,936.57. This represents a 45.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.50% of the stock is owned by insiders.

Salesforce Price Performance

NYSE:CRM traded down $5.61 during trading hours on Monday, reaching $229.09. 2,665,142 shares of the company traded hands, compared to its average volume of 13,832,330. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.84 and a quick ratio of 0.84. The firm’s 50-day moving average is $222.02 and its 200-day moving average is $191.78. The stock has a market cap of $188.54 billion, a P/E ratio of 20.90, a P/E/G ratio of 1.07 and a beta of 1.26. Salesforce Inc. has a 1-year low of $146.32 and a 1-year high of $269.11.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 26th. The CRM provider reported $5.90 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $2.63. The business had revenue of $11.35 billion for the quarter, compared to analyst estimates of $11.33 billion. Salesforce had a return on equity of 24.90% and a net margin of 21.99%.The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.91 earnings per share. Salesforce has set its FY 2027 guidance at 16.670-16.710 EPS and its Q3 2027 guidance at 3.420-3.440 EPS. Equities research analysts expect that Salesforce Inc. will post 12.82 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th will be issued a dividend of $0.44 per share. The ex-dividend date is Thursday, September 17th. This represents a $1.76 annualized dividend and a dividend yield of 0.8%. Salesforce’s dividend payout ratio (DPR) is 16.04%.

About Salesforce

Salesforce, Inc (NYSE: CRM) develops cloud-based customer relationship management (CRM) software and enterprise applications. Its platform helps organizations manage sales, customer service, marketing, commerce, analytics, data integration and collaboration through subscription-based services.

The company’s product portfolio includes Sales Cloud, Service Cloud, Marketing Cloud, Commerce Cloud, Salesforce Platform, Data Cloud and Tableau. Salesforce also offers MuleSoft integration technology, Slack collaboration software and artificial intelligence capabilities through its Einstein platform.